This appeal by the assessee against the final assessment order dated 30-01-2017 passed by the AO u/s. 143(3) r.w.s. 144C(13) of the Act for assessment year 2012-13.
IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, PUNE
(Through Virtual Court)
BEFORE SHRI R.S. SYAL, VICE PRESIDENT
SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER
Assessment Year : 2012-13
Johnson Matthey Chemicals India Private Limited,
Plot No. 6A, MIDC Industrial Estate,
PAN : AABCJ1620M
Deputy Commissioner of Income Tax,
Panvel Circle, Panvel
Assessee by : Shri Rajendra Agiwal
Revenue by : Shri Shivraj B. Morey
Date of Hearing : 12-07-2021
Date of Pronouncement : 30-08-2021
The brief facts of the case are that the assessee is Johnson Matthey Chemicals India Pvt. Ltd. (in short “JMCIPL”) and its Associated Enterprise is Johnson Matthey Plc (in short “JMP”). The assessee is a domestic company engaged in the business of manufacture and sale of Nickel hydrogenated catalysts, Naptha reforming catalysts and Gas reforming catalyst. The AO/TPO asked the assessee to produce the details of services availed, the date of availing of services, the allocation key used by the assessee and the evidence in support of its claim of utilization of services and also to furnish the benefit test i.e. whether the services requested, when and how such services for rendered by the AE, at what rate these are available in the local market and justification of using these services.
2. Heard both parties and perused the material available on record. We note that the Group Consultancy Services Agreement was executed on 29- 03-2010 between the assessee and its AE. The said agreement is in effect from 01-04-2009 which is place at page No. 495 of the paper book. The assessee has been shown as recipient and its AE has shown as provider. It is observed that the provider (AE) agreed to provide the recipient (assessee) with the consultancy services described more detail in Schedule-1 and the said schedule is at page No. 501 of the paper book.
3. In the second year i.e. A.Y. 2010-11 no reference was made to TPO. We note that the list of licenses provided and the IT services rendered by the AE in software license were provided at Page No. 306 of the paper book. On perusal of the same which shows the visit of overseas team to India for the purpose of SAP project and PI configuration. The names of team members were also reflected in the said details. Further, in the same way the details of names of software details of IT services are also reflected.
4. In the light of the above orders of this Tribunal in assessee’s own case for A.Y. 2003-04 it is clear that the allowance of depreciation on goodwill is granted. There was no contrary view placed by the ld. DR before us. Thus, the ground No. 8 raised by the assessee is allowed.
5. In the result, the appeal of assessee is partly allowed for statistical purpose.
Order pronounced in the open court on 30th August, 2021.
Please find attached the enclosed file for the full judgement